Trump says that the US economy in the ‘transition’ as the trade war increases

The president of the United States, Donald Trump, has refused to say whether the economy of the United States faces a recession or increased prices following the Flip of his administration in the tariff threats against some of his closest commercial partners.

When asked if he expected a recession this year, Trump said there was a “transition period.”

However, the secretary of Commerce, Howard Lutnick, insisted that there would be no contraction in the world’s largest economy, while acknowledging that the price of some goods may increase.

It occurs after a volatile week for the financial markets of the United States, since investors dealt with the uncertainty of the change of sense of their administration in some key parts of their aggressive commercial policies.

On Monday the new Tit rates by OT of China entered into force, which are directed to some US agricultural products.

Talking to Fox News in an interview broadcast on Sunday, but recorded on Thursday, Trump answered a question about a recession: “I hate to predict things like that. There is a period of transition because what we are doing is very large. We are bringing wealth to the United States. That is a great thing.”

“It takes a little time, but I think it should be great for us,” Trump added.

Last week, the United States imposed new 25% tariffs on imports from Mexico and Canada, but then exempt many of those goods only two days later.

Trump also doubled a general rate on goods from China to 20%. In response, Beijing announced retaliation taxes on some imports of agricultural goods in the United States.

He accused China, Mexico and Canada of not doing enough to end the flow of illegal and migrants to the United States. The three countries have rejected accusations.

The actions in Wall Street have fallen since Trump caused a commercial war with the main business partners of the United States.

Investors fear that tariffs will lead to higher prices and, ultimately, the growth of the world in the world.

Speaking in NBC on Sunday, Lutnick said: “Foreign goods can be a bit more expensive. But American goods will become cheaper.”

But when asked if the American economy could face a recession that Lutnick added: “Absolutely no … there will be no recession in the United States.”

The former official of the United States Department of Commerce, Frank Lavin, told the BBC that he believes it is unlikely that the commercial war will come out of control.

Tariffs will eventually “fade a little”, but still will be an “additional burden on the economy of the United States,” he said.